Jill on Money with Jill Schlesinger Romance Scams With Adam Levin
Feb 14, 2025
In this enlightening conversation, Adam Levin, a cybersecurity expert and author of "Swiped," shares his insights on the alarming rise of romance scams, especially around Valentine's Day. He discusses the emotional manipulation techniques scammers use and the intersection with cryptocurrency issues. Adam also reveals the psychological struggle victims face when reporting these crimes. With real-life examples, he stresses the importance of awareness and protective measures in online relationships.
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Romance Scam Costs
- Romance scams now exceed $1.4 billion, combining romance with cryptocurrency fraud.
- Many victims feel too embarrassed to report these crimes, making it hard to track the true extent.
Traditional Romance Scams
- Traditionally, scammers quickly developed intense online relationships, using flowery language and fabricated crises.
- They'd request money for plane tickets or other emergencies soon after connecting.
Crypto Romance Scams
- Now, scammers build trust over longer periods, exploiting personal details to manipulate victims.
- They lure targets into cryptocurrency investments with fake profits, then fabricate fees and taxes to steal more money.
